Warrant Extension

www.tertiaryminerals.com

("the Company") 

18 September 2014

Warrant Extension

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces a three month extension to the expiry date of the following unexercised warrants held by employees, officers and directors of the Company.

Under the London Stock Exchange AIM Rules for Companies ("AIM Rules"), an AIM company "must ensure that its directors and applicable employees do not deal in any of its AIM securities during a close period. In addition, the purchase or early redemption by an AIM company of its AIM securities or sale of any AIM securities held as treasury shares must not be made during a close period." A close period is defined under the AIM Rules as the two months preceding the publication of the company's annual results (or, if shorter, the period from its financial year end to the time of publication).

As the financial year end for the Company is 30 September, the warrants listed below will expire during future year-end close periods and cannot therefore be exercised by directors or Applicable Employees for their full term. The Company therefore considered it reasonable to extend the term of the warrants listed below.

Warrants Extended

As these warrants were issued as part of the remuneration of its employees the decision has therefore been taken by the Board of Directors to extend the term of these warrants for a period ending three months beyond the end of the applicable close periods. This extension will not override any other termination conditions that might apply to the warrants, for example on termination of employment. Meanwhile the issue of warrants to non-Executive Directors has been discontinued In order to bring company policy in line with current Best Practice.

*2008 Warrants

 On 10 December 2008 the Company announced details of an issue of warrants (the "2008 Warrants"). The announcement incorrectly stated the expiry date of the 2008 Warrants as being 9 December 2013. It was the intention of the Directors at the time to grant the 2008 Warrants for a 5-year term expiring on 9 December 2013, however the warrant deeds issued on 9 December 2008 stated a 6-year term with an expiry date of 9 December 2014. Details of the 2008 Warrants have been correctly disclosed as having a 6 year term in the Company's annual report and accounts since the date of issuance. The error in the original announcement of 10 December 2008 has been identified and is hereby corrected.